TI - Insuring Your Home Lesson

CTAE_FLLessonTopBanner.png Insuring Your Home

image of a house As previously discussed, the most valuable asset owned by most people is their home. Since homes cost so much money, it is important that they are insured. Homeowner's insurance is required by lenders until the home is paid in full. Even after you own your home, maintaining  homeowner's insurance  is important to protect you from financial loss. (Homeowner's insurance is often referred to within the insurance industry as homeowner's and condominium owner's insurance because it covers condominiums as well.) View the presentation below to learn more.

Homeowner's Insurance Interactive

 

Renter's Insurance

If you are renting a home, townhouse, or apartment, you should consider having renter's insurance on your personal property in the event of a fire, theft or some other event. Renter's insurance  will pay for losses incurred while you are living in a rented residence by providing you with a cash payment to replace the items that have been lost or the damages incurred. Renter's insurance can be purchased inexpensively and, like most other policies, has a deductible that must be met before a claim is paid. Many leasing companies require their tenants to purchase renter's insurance before they are approved for the lease.

Both homeowner's and renter's insurance policies typically provide protection if

  • personal property kept within your residence is lost or stolen;
  • they also often provide coverage for certain medical and liability risks, such as "slip and fall" types of injuries in your home,
  • as well as claims against you for libel or slander.

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